Miller Howard Investments Inc. NY Takes Position in AT&T Inc. (NYSE:T)

Miller Howard Investments Inc. NY purchased a new position in AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 240,943 shares of the technology company's stock, valued at approximately $6,814,000.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in AT&T in the fourth quarter valued at $1,858,418,000. GQG Partners LLC increased its stake in AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in AT&T by 31.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after acquiring an additional 12,881,578 shares during the last quarter. Northern Trust Corp increased its stake in AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after acquiring an additional 10,945,679 shares during the last quarter. Finally, Assetmark Inc. increased its stake in AT&T by 4,986.1% in the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock valued at $225,741,000 after acquiring an additional 9,719,036 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Trading Up 0.1%

Shares of AT&T stock traded up $0.02 during trading on Friday, reaching $28.33. 21,085,177 shares of the stock were exchanged, compared to its average volume of 36,473,882. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The stock's fifty day moving average is $27.76 and its 200 day moving average is $26.08. The firm has a market cap of $203.82 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42. AT&T Inc. has a 1 year low of $18.14 and a 1 year high of $29.19.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 earnings per share. As a group, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.92%. AT&T's dividend payout ratio (DPR) is presently 68.10%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Williams Trading set a $30.00 target price on AT&T in a research note on Thursday, April 24th. Barclays increased their target price on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Tigress Financial increased their target price on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Finally, Citigroup restated a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, AT&T presently has an average rating of "Moderate Buy" and an average price target of $28.90.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.